Hard Money Equity Loans: Shop Private Money for Bad Credit Options
Many homeowners in the Springhill FL area have run into financial problems which may have caused them to miss one or more mortgage payments on homes they have owned for years. Now those Springhill owners need to get some of the equity from their homes for improvements, to pay medical bills, settle their taxes, or for other needs. If they go to conventional lenders they are turned down because those missed mortgage payments are on their credit record. This is when AHL Hard Money Network can help.
Hard money, also referred to as private money, comes from private investors who secure their loans with the equity in your home. They are not as interested in your credit rating as conventional lenders, so they are ideal sources for homeowners with bad credit who need the equity from their home.
Homeowners should consider hard money cash-out equity loans or consolidation loans for:
- Financing an investment property until a conventional mortgage can be obtained
- Home improvement projects
- Repairs prior to selling the home
- Consolidation of high-interest rate debt
The major difference between hard money and a conventional loan is that the hard money is based entirely on the equity in your home. Your personal credit rating is not a factor. This is a higher risk for the investors, therefore, the interest rate will be higher. Some advantages of using hard money include:
- Obtaining hard money is much faster than getting approved for conventional loans
- There may be more collateral options acceptable to hard money investors
- As noted, low credit ratings shouldn’t be a factor
- Our investors understand homeowners and their financial needs
AHL Hard Money Network is experts in bringing together homeowners needing access to their accumulated equity and investors ready to supply it. Springhill homeowners now have the ability to gain access to their equity by contacting the AHL Hard Money Network today.